By Matt Grossman
Becton, Dickinson & Co. said Tuesday that revenue from Covid-19 testing will help power the company to a strong performance in the most recent quarter and through the full fiscal year.
Citing preliminary results, the New Jersey-based medical-technology company said it expects its first-quarter revenue will be $5.3 billion, up 25.6% year over year, amid strong demand for Covid-19 tests and better-than-expected performance in other business lines.
Analysts surveyed by FactSet had been expecting revenue of $4.68 billion in the quarter.
Revenue in the company's medical segment in the quarter is expected to be $2.3 billion, while life-sciences revenue, which includes Covid-19 testing, is expected to be $2 billion, it said.
Covid-19 testing revenue is expected to be approximately $865 million in the period, the company said. International revenue is expected to be $1 billion, the company said.
For the full 2021 fiscal year, revenue is expected to be be near the top end of its previously given guidance range, while adjusted earnings is expected to exceed the guidance, Becton Dickinson said.
In November, the company said it expected revenue growth in the high-single to low-double digits in the coming fiscal year, and adjusted earnings per share of $12.40 to $12.60.
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(END) Dow Jones Newswires
January 12, 2021 06:52 ET (11:52 GMT)Copyright (c) 2021 Dow Jones & Company, Inc.